Cannabis Accounting Firms
For anyone operating in the cannabis industry, having qualified accounting and bookkeeping providers is an absolute must. Due to the federally conflicted nature of state-legal cannabis, operators are significantly more likely to face scrutiny from the IRS. Stay compliant and be prepared for an audit by working with an accounting firm, outsourced CFO, or bookkeeping service who specializes in serving cannabis industry clients.
More InformationFeatured Listings:
BGM
BGM is one of the first accounting and advisory firms in the world to focus solely on the cannabis industry. Since 2009, our practice has expanded to over 600 cannabis and hemp clients nationwide. BGM works with all types of organizations that provide legal recreational cannabis, medical marijuana, low-THC and high-CBD products, hemp farming, and ancillary services. Our applications services group provides strategic direction to help with the entire cannabis license application process.
Summit Virtual CFO by Anders
Summit Virtual CFO by Anders is a virtual CFO services provider with a non-traditional approach to accounting. We have an amazing team of accounting professionals who provide Virtual CFO Services for companies all over the United States. We fully understand the accounting, bookkeeping, cash flow management, and business tax nuances that come with being distributed, and we love helping our clients overcome these challenges through our own experience and expertise.
Tree Star Business Solutions
TreeStar Solutions is a leading accounting firm specializing in providing comprehensive financial services to all types of businesses, including cannabis dispensaries, growers, manufacturers, producers, transportation services, and more. Our tailored approach incorporates a robust 4-part system, offering expert guidance, cutting-edge tools, efficient work papers, streamlined processes, and top-notch accounting and tax solutions. With a track record of supporting over 800+ professionals, we empower businesses to rapidly establish world-class accounting practices and accelerate their growth within a short timeframe.
Green Valley Tax Services Inc
Luis V Plascencia
MGO CPA
THCFO Accounting
Account Ways
Tinkler Professional Accounting Services, LLC
Sax LLP
CannaBooks, LLC
Zelen Accounting
Bloom Financial Group
Accountabis Advisors
The Canna Accountants & Tax Professionals, LLC
William Leonard, CPA
Cherry Bekaert
Janover LLC
Jessica Coblentz-Biehle, CPA / Coblentz-Biehle & Cramer, Certified Public Accountants
NOW CFO
CohnReznick LLP
Indiva Advisors LLP
420 CPA
Green Bean CFO
Kim Walker, Inc.
Bridge West, LLC
Arkley Accounting Group
Vertices
The Green Leaf CPA
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How to Hire an Accountant for Your Cannabis Business
Maintaining proper accounting records is arguably the most important part of operating a cannabis business in the United States.
Why is accounting important for cannabis businesses?
When it comes to cannabis, maintaining proper accounting records isn’t just a nice-to-have: it’s crucial.
Tax Code 280E is a federal tax code currently preventing state-legal cannabis businesses from deducting most business expenses from their taxes, aside from the Cost of Goods Sold (COGS), since cannabis is classified as a controlled substance.
Determining the COGS can be tricky, there’s a lot of gray area. That’s why your accountant should fully understand the cannabis industry.
What to look for in a cannabis accountant:
The best accountants for your business have a proven, verifiable track record in the cannabis industry. If they don’t, they answer to someone who does.
Here are some questions to ask:
- How long have you been serving cannabis clients?
- How do you help your clients navigate 280E?
- Do you have experience serving clients like me (startups, vertically-integrated operations, multi-state operators, dispensaries, etc.)?
- Do you have any client testimonials I can see?
- Can you tell me what accounting services you do and don’t perform for a cannabis business like mine?
To begin reaching out to awesome accountants in cannabis, see Ganjapreneur’s verified list of accountants and bookkeepers above! The list was assembled to narrow down your search for the perfect cannabis-friendly accountant.
Ganjapreneur hasn’t worked with each service provider directly, but all of these businesses are active, cannabis-friendly providers in the industry. We encourage you to connect with multiple different accountants on this list in order to determine the best one for you.
Are you a CPA who works in the industry, or do you represent a cannabis accounting firm? Create a profile here to get discovered by new clients! A profile in the Ganjapreneur Business Index also comes with additional features and marketing tools.